GO shares push Index higher

MSE Daily Trading Report, July 17, 2014

During today’s session the MSE Index recouped some of yesterday’s losses, as a result of buying interest in GO plc shares, and to a lesser extent, through gains in HSBC Bank Malta plc shares. Two other equities were negotiated – both closed the session unchanged. The index advanced by 0.247 per cent to 3,308.077 points.

Earlier today, the telecommunications company, GO, announced that Forthnet S.A. has informed the market about a joint non-binding indicative proposal by Vodafone Group Services Ltd and Wind Hellas Telecommunications S.A. to its board of directors – for the possible acquisition of all shares of Forthnet which are not owned by them. The indicative and conditional price is in the range of €1.7 – €1.9 a share. As a result, GO shares jumped by 2.5 per cent overt the highest turnover for the day, worth €89k.

The other gainer for the day was HSBC, whose shares edged 0.3 per cent higher, as a singe deal of just 200 shares was struck.

Both Bank of Valletta plc and RS2 Software plc were active, but failed to register any movement by close of session.               

In the corporate bond market, 13 issues were traded of which four fell in value, three registered a gain while six closed flat as turnover reached €169k. A total of 23 sovereign debt issues were active today – eight registered a decline, fourteen gained in value while one closed unchanged. Total trading reached €7.6m as the 4.3% MGS 2033 (I) was the most liquid issue reaching a traded value of €3.6m.